Dr. Bawumia will be worse than Akufo-Addo in corruption fight and economic management

Feature Article Dr. Bawumia will be worse than Akufo-Addo in corruption fight and economic management
FEB 29, 2024 LISTEN

Kofi Bentil of the IMANI Africa has coaxed Ghanaians to give Dr. Bawumia of the NPP a ‘fair hearing’ in the upcoming Presidential race and intimidated that Dr. Bawumia would do better than former President Mahama.

I completely disagree with this assertion based on the track records of Dr. Bawumia and former President Mahama. To compare the track records of both Dr. Bawumia and former President Mahama will be for another day.

In this piece, I would like to narrow my submission on only two parameters namely ‘corruption fight’ and ‘economic management’ to illustrate why Dr. Bawumia will even be worse than Akufo-Addo in the fight against corruption and management of our Guggisbergian economy if he were voted as the next President of Ghana after Akufo-Addo in 2024.

As the saying goes, coming events cast their shadows in advance. Thus, the worse performance of Dr. Bawumia on the fight against corruption has cast its shadow even before he said that he wanted to fight corruption if voted into office in 2024.

It is an indisputable admission that the so-called Akufo-Addo’s resolve to fighting corruption with the ‘Anas’ Principle’ is sadly lost under the watch of Dr. Bawumia and his boss, Nana Akufo-Addo.

The Akufo-Addo-Bawumia-led regime is one of the regimes in the Fourth Republic that has registered the highest number of corruption scandals of about 100.

Dr. Bawumia has not, on a single occasion, acted to show that he really abhors the worsening corruption situation in the country and how it is being handled under his watch, except when he was seeking power from Ghanaians.

He rather shifted his focus from prudent management of the economy to digitalization and now claiming IT/E-infrastructural projects initiated by the previous NDC/Mahama government. If his claim is to use digitalization to curb corruption, why are corruption incidences so astronomically high under his direct watch now? Also, if naked rape of the national resources in corrupt deals are not tackled by his own NPP government now, how can only digitalization solve it?

A case in point is the botched PDS deal which fingered Dr. Bawumia for authorizing or changing the bank guarantee to insurance guarantee (i.e. condition precedent to condition subsequent) in the agreement. At the at end of the day, the dead PDS deal has caused financial loss to the state. This is a scintilla of proof that Dr. Bawumia is not above board when talking about the corruption cancer fight under the Akufo-Addo-led government, of which he is centrally part.

The main reason why Dr. Bawumia will badly confront corruption and fail is that he will not have the courage to hold the appointees of President Akufo-Addo, especially Akufo-Addo’s cousin(s) involved in the botched Agyapa and PDS deal and other malfeasance that has occurred in this current government, which he is centrally part.

According to Anas Aremeyaw Anas' "Galamsey Economy" exposé, Adu Boahen in a captured video cited Dr. Bawumia as a ‘bribable’ government official and claimed that he would give US$200,000 to the Vice President for his campaign activities. This has tarnished Dr. Bawumia’s reputation in the fight against corruption.

Therefore, Dr. Bawumia will be handicapped in dealing with corruption if he were voted into power in 2024 because his regime will be an extension of Akufo-Addo’ third term and there will be high likelihood of cover of suspicious Akufo-Addo’s regime deals, which the NDC Party led by former President vowed to investigate and culprits will be made to face the full rigours of the laws of the country.

On the part of the economic management, Dr. Bawumia will not be able to prudently manage it because he and his ‘solid’ Economic Management Team (EMT) have rather weakened the economic fundamentals exposed by the very volatile exchange rate under his chairmanship.

President Akufo-Addo has touted Dr. Bawumia as the right Economist who would help him fix the economic woes of the country which turned out to be the opposite. The macroeconomic indicators including inflation rate, interbank policy rate, external debt servicing and national debt accumulation are doing very bad, attributable to the mismanagement of the economy.

Dr. Bawumia has been badly exposed now due to his unguarded comments on ‘arresting’ the cedi and ‘no borrowing’ to build Ghana. Can Dr. Bawumia say that he has competently managed Ghana’s economy now more than the so-called ‘incompetent’ Mahama as he claimed in the run up to the 2016 general elections? I doubt!

The poor performance of Ghana’s economy has caused the Akufo-Addo-Bawumia-led government to rush the country into the IMF $3 billion External Credit Facility which led to more excruciating domestic tax increases and the Domestic Debt Exchange Programme (DDEP) as part of the IMF conditionalities for the first tranche of the loan.

Although COVID 19 pandemic and ongoing Russia-Ukraine war have negative global impact on economies, Ghana has been disproportionately affected as compared other neighbouring countries in the Global South due to already struggling fundamentals before COVID 19 hit Ghana in March 2020.

Dr. Bawumia has already failed miserably demonstrable by the ailing national economy as we speak now. The same can be said about Dr. Bawumia’s promise of fight corruption if he wins power in 2024. Dr. Bawumia is indeed compromised to fight corruption seriously with Akufo-Addo and his appointees and non-appointees in government.

Despite Akufo-Addo did poorly in the fight against corruption as well as leading a ‘junk’ economy, Dr. Bawumia is likely to do worse than what we are experiencing now. The Flagbearer of the NPP, Dr. Mahamudu Bawumia has discredited himself and cannot be trusted to do any better than the seasoned and visionary Flagbearer of the NDC, John Dramani Mahama.

For Ghanaians to see impactful economic development and serious corruption fight, a change in government is much needed to make this happen after December 7. 2024. Ghanaians, your thumb has the power to make the necessary changes at the Parliamentary and Presidential levels in the upcoming general elections in 2024 to create more sustainable and well-paying jobs for the teeming unemployed youth in the next NDC/Mahama government.